Lisa Setyon of CNBC reports on Arkansas’ emergence as a lithium leader.
- Arkansas is emerging as a major player in U.S. lithium production, with companies like ExxonMobil, Albemarle, and Standard Lithium investing heavily in the state’s lithium-rich Smackover Formation.
- The state’s lithium resources are attracting attention due to their high concentration and potential for efficient extraction, with estimates suggesting enough lithium to power millions of EVs.
- Companies are exploring Direct Lithium Extraction (DLE) methods, touted as more environmentally friendly, though the technology is yet to be proven at scale.
“Exxon Mobil, for example, acquired 120,000 acres in the Smackover Formation in 2023 and aims to start producing battery-grade lithium by 2027. The company said it will produce enough lithium to supply the manufacturing more than 1 million EVs per year by 2030. Standard Lithium, which has operated in Arkansas since 2020, is also expanding its Direct Lithium Extraction (DLE) facility in El Dorado, thanks to a $100 million investment from Koch Strategic Platforms. DLE is touted as a more eco-friendly extraction method, using advanced filters to reduce energy and water usage.”
Read the full article here.
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